Skip to content
×
PRO Members Get
Full Access
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 16%
$32.50 /mo
$390 billed annualy
MONTHLY
$39 /mo
billed monthly
7 day free trial. Cancel anytime.
Level up your investing with Pro
Explore exclusive tools and resources to start, grow, or optimize your portfolio.
~$5,000+ potential annual savings on vetted partner products
10+ deal analysis calculators with ready-to-share reports
Lawyer-reviewed leases for every state ($99/package value)
Pro badge for priority visibility in the Forums

Let's keep in touch

Subscribe to our newsletter for timely insights and actionable tips on your real estate journey.

By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions
Followed Discussions Followed Categories Followed People Followed Locations
Private Lending & Conventional Mortgage Advice
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
Market Trends & Data
Buying & Selling Real Estate
Out of State Investing
Real Estate News & Current Events
Real Estate Technology
Investor Mindset
General Info
BiggerPockets Exclusive PRO Area
PRO
General Real Estate Investing
BPCON
New Member Introductions
Questions About BiggerPockets & Official Site Announcements
Off Topic
Starting Out
Real Estate Success Stories
Real Estate Horror Stories
Real Estate Strategies
House Hacking
Commercial Real Estate Investing
BRRRR - Buy, Rehab, Rent, Refinance, Repeat
Innovative Strategies
Mobile Home Park Investing
Multi-Family and Apartment Investing
Land & New Construction
Wholesaling
Rehabbing & House Flipping
Short-Term & Vacation Rental Discussions presented by
Tax Liens & Mortgage Notes
Medium-Term Rentals
Buying & Selling Small Businesses
Outdoor Hospitality
Landlording & Rental Properties
General Landlording & Rental Properties
Managing Your Property
Marketing Your Property
Tenant Screening
First-Time Home Buyer
Real Estate Professionals
Mortgage Brokers & Lenders
Contractors
Real Estate Agent
Financial, Tax, & Legal
Creative Real Estate Financing presented by
Personal Finance
Insurance
Private Lending & Conventional Mortgage Advice
Tax, SDIRAs & Cost Segregation presented by
Foreclosures
1031 Exchanges presented by
Goals, Business Plans & Entities
Legal & Legislation
Real Estate Classifieds
Classifieds
Real Estate Events & Meetups
Reviews & Feedback
Ask About A Real Estate Company
Real Estate Deal Analysis & Advice
Guru, Book, & Course Reviews
Syndications & Passive Real Estate Investing

Updated almost 9 years ago on .

Mathew Randolph's profile image
Mathew Randolph's profile image
Mathew Randolph
  • Real Estate Agent
  • from New York City, New York
  • Member since Jun 16, 2016

User Stats

4
Posts
1
Votes
Mathew Randolph's profile image
Mathew Randolph's profile image
Mathew Randolph
  • Real Estate Agent
  • from New York City, New York
  • Member since Jun 16, 2016
Mathew Randolph
  • Real Estate Agent
  • New York City, NY
1
Votes |
4
Posts
Private Lending & Conventional Mortgage Advice

FHA First Time Home-buyer in NYC

Mathew Randolph
  • Real Estate Agent
  • New York City, NY
Posted

I see on the NYC FHA website that the maximum allowance for a 4 unit property is $1,223,475. I also saw on the website that first time home buyer loans can be given with little to no money down < 3.5%. Does this mean that I could potentially borrow $1.2M for a quad-plex as long as I have good credit and probably a guarantor and probably PMI, with nothing out of my pocket? Basically what is the best way to take advantage of this $1.2M so that I can get started as soon as possible?

Thank you

0 Votes
Follow
0 Replies
Log In or Sign Up to Reply